Hyperliquid Hits $29B Volume as HYPE Nears $50 ATH Threshold

Hyperliquid's native token, HYPE, continues to test its upper bounds as platform activity surges to new heights, raising the question of whether the $50 level can be broken to establish a fresh all-time high (ATH). As of press time, HYPE trades at around $48.57, hovering just 1.1% below its peak of $49.75 set on July 14. This proximity has intensified focus among traders and investors, with many anticipating a decisive breakout[1].

On August 15, Hyperliquid reported a record-breaking $29 billion in 24-hour trading volume and $7.7 million in fees, signaling robust demand and participation on the platform[1]. The surge in volume is being driven by both retail and institutional activity, with notable on-chain movements indicating fresh capital inflows rather than recycled liquidity[1].

A newly created wallet withdrew $23.51 million in USDC from centralized exchanges and subsequently purchased 466,000 HYPE tokens worth $21.45 million, along with $2.16 million in UFART. This transaction highlights significant accumulation by large players and suggests confidence in Hyperliquid’s trajectory[1]. Additionally, prominent crypto figure Arthur Hayes has been buying substantial amounts of HYPE, along with other tokens such as $LDO and $ENA, further reinforcing bullish sentiment[1].

Whale participation now aligns with the platform’s volume surge, a pattern often observed before continuation moves in trending markets. This synchronization between capital inflows and trading activity supports the view that Hyperliquid remains in a strong upward trend[1].

Underlying liquidity has also improved, with Hyperliquid’s TVL rising from $460 million in mid-July to $610 million. Meanwhile, July USD inflows increased sharply from $21.35 million in June to $349.27 million. Institutional support is also growing, with Circle’s plan to bring native USDC and CCTP V2 to Hyperliquid and Anchorage Digital Bank offering custody for HYPE tokens. These developments are expected to enhance on- and off-ramp capabilities for both retail and institutional participants[1].

From a technical perspective, HYPE has recently broken out of a downward channel, establishing a new ascending trendline. Major moving averages, including the 50-day SMA and 20-day EMA, all show a buy bias, while the RSI is near 63—indicating room before entering overbought territory. The MACD remains positive, and the stochastic indicator near 87.81 suggests strong buying interest. The Bollinger Bands have also tightened, with price riding along the upper band, reinforcing the bullish momentum[1].

Analysts suggest that a daily close above $49.75, accompanied by expanding volume and sustained fee generation, would likely validate a move toward $55 in the short term. Conversely, if price stalls below $48 and breadth weakens, the market could consolidate between $44 and $49, rebuilding energy ahead of the next move[1].

Source: [1] Hyperliquid price forecast: Can it break past $50 as it sets a new ATH? (https://invezz.com/news/2025/08/15/hyperliquid-price-forecast-can-it-break-past-50-as-it-sets-a-new-ath/)